Stumpf Says Wells Fargo Failed Its Customers and the Public

September 19, 2016 10:05 PM

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John Stumpf, responding to allegations that Wells Fargo & Co. opened millions of unauthorized accounts, said his bank failed its customers and the American public.

In remarks prepared for the Senate Banking Committee, Stumpf said the scandal was not an “orchestrated effort” and that the company never wanted employees to open accounts that they didn’t need or want.